EIB chief in Malta, opportunities for future collaboration discussed

Opportunities for future collaboration between Malta and the European Investment Bank were discussed in a meeting held between an official EIB delegation and Prime Minister Joseph Muscat.

EIB President Werner Hoyer spent a day in Malta on Monday during which he was hosted by Finance Minister Edward Scicluna, also chairman of the EIB’s board of governors.

Hoyer’s visit to Malta precedes the bank’s Annual Meeting of the EIB Board of Governors to the chaired by the Maltese Finance Minister in the coming days. The EIB’s delegation also visited ongoing projects and discussed opportunities for further collaboration and investment between the EIB and the Maltese Government.

The government is targeting collaboration in social housing to meet the rising demand and looking towards regenerating older buildings owned both by the private sector and by the government, as opposed to building new units.

With the support of the EIB, the government wants to invest in energy efficiency in social housing units.

An education pilot-project intended to address the skills mismatch between the available jobs and those seeking work was also being explored.

“Such visits and discussions are highly important, especially with institutions such as the EIB which is the European Union’s largest bilateral bank and which plays a crucial role in supporting developmental projects carried out by individual member states,” Scicluna said.

On his part, Hoyer said the visit had provided him and the delegation with the opportunity to discuss the role of the EIB across Europe and its specific relevance in Malta.

“We have discussed a number of sectors where the EIB can possibly play an increased role to support investment in Malta. This includes support for SMEs, transport, energy and urban infrastructure, and initiatives to finance research and innovation,” Hoyer said. 

“We also shared views on possible EIB lending to back investment in renewable energy, energy efficiency projects, and telecommunications, as well as tourism, in recognition of the sector’s importance to the Maltese economy.”

Together with family minister Michael Farrugia and the finance minister, Hoyer toured the housing estate in Tarxien, the City Gate project and the Delimara power plant.

Hoyer also held meetings with Education Minister Evarist Bartolo, Energy Minister Konrad Mizzi, Malita chairman Kenneth Farrugia and BOV chairman John Cassar White.

Hoyer insisted the EIB was committed to looking at ways to widen and increase engagement with the government and to build on strong relationships with key public and private stakeholders in the country.

 The EIB is the European Union's bank non-profit long-term lending institution, established in 1958 under the Treaty of Rome.